06:29 AM EDT, 06/09/2022 (MT Newswires) -- William Penn Bancorporation's board of directors authorized a new stock repurchase program, to acquire up to 771,445 shares or approximately 5% of the company's currently issued and outstanding common stock.
The company's first stock repurchase program became effective on March 25 and authorized the buy back of up to 758,528 shares, of which 234,618 shares of common stock were repurchased at a cost of $12.19 per share. As of June 8, there are 523,910 shares remaining to be repurchased under this existing program.
The new repurchase program will start upon the completion of the company's existing stock repurchase program.
Repurchases will take place through open-market purchases or privately negotiated transactions from time to time depending on market conditions and other factors.
The program does not require the company to buy back any particular number of shares and there is no guarantee as to the exact number of shares that will be repurchased by William Penn.